So far this looks to be a range type day. It is also an inside bar on the daily chart, but with a much lower high. The daily chart indicates we need a correction or at least some consolidation, and that may be what is occurring here. For now, I would treat this like a range day, but that does not mean we will not see prices trend at some point today. My best guess is the path of least resistance for now is lower.
Mack’s Daily Chart with the Envelope Bands/Strategy.